WHY DO MOST FITNESS BUSINESSES FAIL?
FITNESSPRENEUR’S LIFE
If you own your own fitness business or are considering starting one, this is a question that you need to con-sider. Because when you look at the statistics of how many studio owners and small fitness businesses are actually making it, the numbers don't look good.
In fact, only about 50% of all new businesses are still open at the 5 year mark.
Most people think that a fitness business fails because it isn't utilizing the right training systems or it has the wrong product. Or maybe the wrong people were hired or staffing numbers were off. All of these can contrib-ute to a fitness business closing it's doors. But there's a more important reason that needs addressed.
If you don't understand the fundamental reason why your business exists, it will fail.
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WHY DO MOST FITNESS BUSINESSES FAIL?
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You need to ask yourself this question. What is the fundamental reason why your fitness business exists? Is it to make you money? Is it because you've always wanted to be a business owner and now you'll be able to cross that off your bucket list? Or it it because you want to help your clients?
If you want your fitness business to succeed, it needs to exist to be of service to others.
That's the big question. Does it exist to be of service to others? Most of you will answer this question automatically with a loud “YES!' But a lot of people are unaware that they have other motivations. And before you can run a suc-cessful fitness business, you need to be aware of your true motivations.
FITNESSPRENEUR’S LIFE: WHY DO MOST FITNESS BUSINESSES FAIL?
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FITNESSPRENEUR'S TIP:
Understand the fundamental reason why your business
exists.
HTTP://VITOBIZ.COM/HWHYDOMOSTFITNESSBUSINESSESFAIL
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A lot of people are unaware that instead of running a business, they're more interested in running a hobby.
Do you love training and teaching people? Getting out there and being the technician on the floor and working people out? If you do, that's phenomenal. But it's not the same thing as being in love with being a business owner.
The biggest mistake you can make is to become a business owner when that’s actually not what you want to be.
WHAT DO YOU WANT? A BUSINESS OR A HOBBY?
FITNESSPRENEUR'S TIP:
Don't be a business owner if that's
something you don't want to be.
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If you understand what you truly want now, you can make the decision for your future of whether you should stay a hobbyist and work for other
people or go forward and begin your own business. And it's fine if you don't want to be a business owner. Our industry needs people who love being the technician and are helping clients on the floor.
Are you a Hobbyist? What does a Hobbyist even look like?
Fundamentally a Hobbyist is self-focused. They think in terms of what they know, what they can teach and what they can create. They think about what they love to do in the fitness industry and they put that out there. If they love kettle bells, they're going to create and offer kettle bell programs. A business owner looks at things in a different way.
A business owner thinks about what the customer and the market needs and wants.
Say a customer comes in with back pain. The business owner will be thinking of how to create a program, product or service that can solve that problem and do it in a smart and strategic way. Additionally, they think about
how to create services and products that solve the customer's problem for profit.
A business owner understands that if there's no profit, there's no business.
And if there's no business, you're not helping the people who need your help. If you're only thinking about the passion and joy of training others and have no desire to focus on how to turn a profit, your business is going to have prob-lems. Because owning a business isn't always going to be passion and joy. It's a lot of hard work.
But if you don't want to think about money, sales and marketing; you will be happier as a Hobbyist.
The fitness industry is very heart-centered and purpose-driven and hopes to serve as many people as possible. That passion and desire makes a big difference in the world. But in order to help all the people out there, someone needs to focus on the money, the sales and the marketing.
FITNESSPRENEUR’S LIFE: WHY DO MOST FITNESS BUSINESSES FAIL?
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So which do you prefer? Now that you know the difference between a hobbyist and a business owner, it's im-portant to be honest and fair with yourself. Don't try to be something you are not. If you decide to
continue forward and become a business owner, you have to be willing to do the work that's re-quired along the way.
If you prefer to remain a hobbyist and you can determine that for yourself now, you'll save yourself a lot of heart-ache and money.
AVOID THE REASON MOST FITNESS BUSINESSES FAIL...
If you're starting to fall in love with the complexity of being a business owner. If you're excited when challenged to figure out the business and the marketing aspects of your business to meet the needs of your customers and turn a profit, then you've come to the right place.
It's time to change the trend of fitness businesses lasting only three to five years.
It's time to become one of the best businesses in the industry. If you want that to be your business, let me know. Check out my blog and newsletter because I have a ton of stuff available and more in the pipeline.
Let's get after it and start living the Fitnesspreneur’s Life.
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6FITNESSPRENEUR’S LIFE: WHY DO MOST FITNESS BUSINESSES FAIL?
Let me help you launch your business, income and lifestyle! Follow me on:
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As a certified High Performance and Funnel Optimization Coach, Vito La Fata, is the NO BS business & personal brand coach to the wellness and fitness professional or company that is looking to get outside the box of the industry and start learning how to grow a personal brand online and offline utilizing a hybrid business model of offline and online marketing strategies that deploy customer value optimization systems in order to create as much benefit and offering for the customer and as much profit and lifestyle for the company as possible.
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